Power surge in Vattenfall's profits

Operating profit increased 33 percent to zł.258 million, while net sales totaled zł.3,251 million. The increase in profit is due to the continuing cost-cutting program within Vattenfall Europe and higher electricity market prices. The objective of the cost-cutting program was to achieve annual savings of €400-500 (zł.1,594-1,992) million from 2005. This goal was achieved at the end of 2004, when savings of €519 (zł.2,067) million were attained.
The company generated 3.2 TWh of electricity and 11.4 TWh of heat in Poland. (Reuters)
J.T.